Prices had corrected earlier & for last two months prices have been consolidating at 323 level, by closing.
Now have started moving up & recently closed above the resistance zone of 347 level which is also the 50
SMA level which it breached at 424 levels. Thereafter prices remained bearish. Yesterdays closing was
above this major level of 347. Last two trading session, more than above average volumes seen. Prices till
manages to sustain & close above 347 level, the script looks bullish.
BUY on retracements till closing is above 347 level with Stop below its previous Support zone,
mentioned. Book Profit near resistance zones.
CMP – 348.
RESISTANCE – 351, 356, 362
SUPPORT – 344, 340, 336
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